Opening (Margin): /MCL June 14th 55/93 Short Strangle
... for a 1.37/contract credit.
Comments: Selling 10 delta on each side. 1.37 credit on buying power effect of around 3.54/contract. 38.7% ROC at max as a function of buying power effect; 19.4% at 50% max. Will generally leave the setup alone, adjusting only on side test or side approaching worthless. While I like to generally hang out for 50% max, I won't hesitate to money, take, run if I get tired of looking at the setup (lol), particularly since I've gone longer-dated than usual here (77 days 'til expiry).
Comments: Selling 10 delta on each side. 1.37 credit on buying power effect of around 3.54/contract. 38.7% ROC at max as a function of buying power effect; 19.4% at 50% max. Will generally leave the setup alone, adjusting only on side test or side approaching worthless. While I like to generally hang out for 50% max, I won't hesitate to money, take, run if I get tired of looking at the setup (lol), particularly since I've gone longer-dated than usual here (77 days 'til expiry).
Trade active:
Rolling the 3 delta June 14th 55 puts up to the 10 delta June 14th 67's for a .51/contract credit. Total credits collected of 1.88/contract.
Comment:
Out of 1/3rd of the position for a 1.38/contract debit. .50 net profit/contract.
Trade closed manually:
Out of the remainder for a 1.32/contract debit; .56 net profit/contract.